Singapore, Feb. 23 (BNA): Oil prices rose slightly in weak Asian trading on Thursday, with WTI snapping a six-day losing streak fueled by growing concerns that aggressive interest rate increases by central banks could put pressure on growth. economic and fuel demand. .
Brent crude futures rose 2 cents to $80.62 a barrel by 01:10 GMT. West Texas Intermediate (WTI) crude futures rose 9 cents, or 0.1%, to $74.04 a barrel.
The minutes of the last meeting of the US Federal Reserve showed that the majority of Federal Reserve officials agreed that the risks of high inflation remain a major factor in shaping monetary policy and ensure the continuation of raising interest rates until they are controlled, Reuters reported.
Oil was also pressured by signs of an increase in crude oil inventories.
US crude oil and fuel inventories rose by 9.9 million barrels last week, according to market sources citing American Petroleum Institute figures on Wednesday.
US oil inventories have risen every week since mid-December, raising investor concerns about demand.
A Reuters poll had expected an increase of 2.1 million barrels in crude stocks last week. Official data from the US Energy Information Administration is due on Thursday at 16:00 GMT.
HF